Thursday

5 Horrible Advices You Should Never Accept About Money

When it
comes to matters requiring an advice, almost everybody becomes a counsellor.
Opinions are so cheap that everybody has one. The remarkable thing is that you
don’t even need to solicit for advice; people will always give it to you
without your request, free of charge.

And when too
many people advise you, it can spell trouble because 80% of what people say are
things they are not practicing and consequently have no chance of working.In more grave terms, some of the advice that
people give are potent poisons that are capable of ruining the receiver. This
is why it is an act of wisdom to regularly check if you have received wrong
counsel and do a detoxification of your mind.

Since money
is obviously the most important goal of all businesses, Nigeria Online Business
wants to share 5 common horrible advices about money you should look out for
and reject.

1. Comparison advice

This kind of
advice is the type that takes its merit from those around you. The value of the
advice originates from what others are doing. In other words, it sets others as
a standard for yourself and tells you all is fine since someone is in the same
predicament as you are. It tries to give you comfort by telling you that you
are not alone in the financial problems you’re facing. So, this advice will
okay it that it is fine if you are broke since Mister A is broke.

You need to
learn to cancel such thoughts and avoid such counsels. Your greatest competition
must be yourself and not someone else. You must seek to be better than how you
were yesterday and not another person. No two lives are the same and no two
people get the same opportunity in life even if they share the same background
and age. It is therefore wrong to judge two people using the same parameters.

2. Retirement Advice

Many people
work hard towards enrolling in a pension scheme with the hope that they would
be able to save money they can spend in their old age. The idea of pension is
the best but it is not the most ideal in Nigeria, especially if you’re a civil
servant. We’ve all heard various pension stories.

A renowned
financial analyst in the US once argued that it’s unreasonable for people to
save 10% of their income monthly for about 30 years and expect to live on it
full-time for the next 20-25 years.

While you
should have savings stacked up for your retirement, you must also realize that
your best retirement plan is in your hands. It’s best to have several streams
of passive income that brings you money without raising a finger.

3. Government-Dependence Advice

Many of
today’s old folks still hum this statement. They believed it and held on to it
that the government owes them. They believe the government is the reason they
are poor as though it is not under the same government that others are making
it. The government may be a problem to the nation but it not personally your
problem. So many people have succeeded without the government. So, what’s your
excuse?

Smart people
do not depend on the government, but take advantage of any profitable policy
the government rolls out. The geniuses even look for the good in a bad policy
and exploit it. Take control of your life. Plan it independent of the
government and work towards it. Make a resolution that you will succeed, with
or without the government. It may not be easy at first, but it will eventually
be worth it.

4. Money-Demonizing Advice

Money has been demonized in some quarters. It
has been talked down as being overhyped. Those who often say money is not
everything are those that do not have it. Statements like, “money cannot buy
happiness”, “vanity upon vanity is vanity” and other money demonizing
statements keeps flying around.

If money
cannot buy happiness, well, neither can poverty. If money cannot buy you sleep,
neither can poverty. There is no sense in the fact that money is being talked
down. Any advice that tries to downplay the relevance of money is terrible.
Money is important. It is a big deal. It is only evil when anyone tries to get
it illegally.

5. Time advice

Timing is a
very important factor in life. The idea of timing should be to recognize when
it is most suitable to take an action. But many counsels these days emphasize
that a future time is coming for everything: “There is still time”. It is one
of those ways of deliberately excusing one’s self from having to tackle the
problems and opportunities that come to one’s path.

The simple
truth is, there may not be a better time in future to make money than now. It
is not that it would be impossible; it is that may be difficult. The Chinese
proverb says, “The best time to plant a tree was 20 years ago. The second best
time is now.” Now is the time to create the all-important passive income.

If you will
like to create a passive source of income today, you can start at this place

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